QINGDAO — Vice-Premier Han Zheng underscored efforts to improve the business environment to deepen mutually beneficial cooperation with multinationals on Oct 19.

Han made the remarks when addressing the opening ceremony of the first Qingdao Multinationals Summit that opened in Qingdao in East China's Shandong province.

Han said multinationals have played positive roles in China's sustained economic growth as they have brought advanced technical equipment, rich management experiences, high-quality products and services, and leading innovation resources over the 40-plus years.

He stressed that China is ready to join hands with governments of other countries, international organizations and various market players to deepen mutually beneficial cooperation, develop an open economy and share a bright future.

China will foster a better business environment for multinational companies by further lowering tariffs and scrapping all kinds of non-tariff barriers, Han said, adding that China is willing to strengthen exchanges and cooperation in innovative and intelligent manufacturing, green development, global governance, and other areas.

China welcomes multinationals to work together to safeguard the multilateral trading system and promote economic globalization, Han said.